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are reaction to a little-known amateur movie produced in the united states which ridiculed the prophet mohammed. it gained attention because an obscure florida pastor began promoting it, the same man who triggered deadly riots in afghanistan when he threatened to burn the koran. we want to go straight to cairo where we find nbc chief foreign correspondent, richard engel. richard, fill us in a little more this morning. >> reporter: good morning. a libyan source has told nbc news that the u.s. ambassador who was visiting the consulate was killed along with three others. not sure of the nationality of those three others. the u.s. state department has not confirmed this, but this has been told to us by a senior security source in libya. we've been also told that the libyan prime minister and the libyan president will both be speaking today about this subject, offering their condolences to the united states and to the family of the fallen ambassador. and this is according to the report. we were told that when gunmen and a mob stormed the consulate building, they first attacked it with rpgs, then the
last october at the values voter summit. it has been crisscrossing the united states registering voters of sporting concerted candidates are running for office, and shining the light on this administration and its failed policies. please take a few minutes to step on board between new and to, today and tomorrow. it's parked recognize the exhibit hall. just follow the signs. you can't miss it. speaking of the exhibit hall we are delighted to have many profamily conservative organizations from all over the country or exhibiting with us. in fact, the second year in a row with so many we had to overflow in the air on the other side of the exhibit hall and was called birdcage walk. we plan to visit these wonderful exhibitors and to show them your appreciation for all the work they do. we are pleased to have our good friend of the media research center again as or sponsor of new media wrote located in the ballroom and, of course, you'll be hearing from a president roosevelt later in the program. almost finished. hang in there. i'm trying to make these announcements as dynamic as possible. [la
, president of the united states of america. >> mr. president, mr. secretary general, fellow delegates, ladies and gentleman, i would like to begin today by telling you about an american named chris stevens. chris was born in a town called grass valley, california, the son of a lawyer and a musician. as a young man, chris joined the peace corps, and taught english in morocco. and he came to love and respect the people of north africa and the middle east. he would carry that commitment throughout his life. as a diplomat, he worked from egypt to syria, from saudi arabia to libya. he was known for walking the streets of the cities where he worked -- tasting the local food, meeting as many people as he could, speaking arabic, listening with a broad smile. chris went to benghazi in the early days of the libyan revolution, arriving on a cargo ship. as america's representative, he helped the libyan people as they coped with violent conflict, cared for the wounded, and crafted a vision for the future in which the rights of all libyans would be respected. and after the revolution, he supported the birt
are furious with the united states -- if you talk to the pakistanis, we want the opportunity, and we want that kind of social link. it would help to build ties with the united states, and put a lot more of our concentration into society where the face of society is the face of your neighbor, the engineer who works in a ditch, the face of a student, the face of your child who has come to america, etc.. our focus on what pakistan is. i am not sure that is going to be possible in the next two years, and this is my second point. i will get back to the international element in a minute. i think that it is right for us to make sure that we focus on the issue of the counterinsurgency issues that we have. we have to deal with that correctly. we have to deal with al qaeda. we have to do with international terrorism. until 2014, it is unlikely in my mind that we can have a major change. that does not mean we cannot do our hallmark. it does not mean we cannot get, for example, the dynamic, philanthropic sector of pakistan to work with the thorough -- very dynamic philanthropic sector in the states,
is unthinkable. and devastating. and when i become president of the united states, we will stop it. i will not cut our commitment to our military. >> the president once again blasted romney's hidden camera comments on the 47% of americans he dubbed victims of government dependence. >> i don't think we can get very far with leaders who writeoff half the nation as a bunch of victims who never take responsibility for their own lives. >> 47% of the people vote for the president no matter what. who -- >> the obama campaign turned romney's secretly recorded remarks into a devastating new ad claiming the gop nominee's words under the families and veterans. >> so my job is not to worry about -- they should take personal responsibility. >> romney two days in a row out to link national security to the nati sluggh recovery. he's seizing on new economic data revising down the 2nd quarter gdp. >> this is not just one quarter. this has been going on now for years. china's growing much faster than we. russia's growing faster than we. our economy needs to be reinvigorated. >> but not all the numbers
action to put our fiscal health in order and obviously that is a bigger challenge in the united states were adding a trillion dollars in debt year after year -- though how does it unplayed? >> that could serve as a source of entertainment to the canadian community. >> how do you think the u.s. does play out? >> i think that is a big risk and the frustrating thing in the u.s. is that the core is so strong and so good. you know we have illegal immigration by the way the average -- no growth over five years which includes a downturn but basically it's a big economy in 2% on a big economy as a big number and i think it goes. but it's very -- these problems are self-inflicted to a great extent and it makes it all the more frustrating and it must be frustrating to watch last summer with the debt ceiling and save why don't you compromise and why don't you get this done? i would say it's sometimes more frustrating to watch something that you can undo. it's like seeing it spiraling and you wish you could stop it and is within everybody's power to stop it. i think it's a political system to some
people. because the senate bill was inclusive and every woman member , republican, of the united states senate voted for it. everyone. that was the difference between the two bills. those who were included and a more specific group that are now included, which we think they ought to be, but we also think there aren't people include who had need to be. with all due respect i think my characterization was absolutely accurate. but it's interesting, mr. speaker, that we still haven't eabed the question -- answered the question. we tend to want to talk about other things. 98% of americans should not get a tax increase on january 1 that are making less than $250,000 individually as a family. i think we agree on that. mr. speaker, now i haven't heard that we don't agree on that but we agree on that which means there are 2% on which we do not agree. and that bill has not been brought to the floor that passed the united states senate dealing with that 98%. or 97% of small business. now, mr. speaker, it seems to me if we have agreement on 98% and the president of the united states will sign that
in the united states who have been educated in our schools, to give them the opportunity to stay here. you know, wouldn't we rather be known as a country of dreamers, than a country of illegal aliens? [applause] and as we saw last night, this is the commander in chief who finally brought osama bin laden to justice. [applause] now that is presidential leadership. but even before barack obama was elected president, we knew he was going to be a great leader. we knew it when he chose joe biden as his running mate. [applause] joe was the perfect choice, because like the president, he had lived the american dream, going from humble middle-class roots, to the united states senate, to the vice presidency of the united states. [applause] and we all know from his incredible speech last night that he has been side by side with the president's, fighting to make sure that we open the doors of opportunity for all americans, working to create good jobs and to invest in education, to make health care and retirement and schools affordable for everyone. it is what he has fought for his entire career. [applause]
american forces like we had not seen in years. one of the first mobilizations was our united states military. and they were called to serve bravely in remote corners of the global. 11 years later the mastermind of 9/11, osama bin laden, was taken down, and we now have an al qaeda that is severely diminished, and we are bringing our troops home from that part of the world. but, mr. president, for the troops when they come home, the fight is not over. there's another fight when they get back home to america. it's a different type of battle. the unemployment rate among veterans returning from iraq and afghanistan was just under 11% in august. it's higher for those who are younger, and this problem is likely to continue to grow as we draw down in afghanistan, just like we've already drawn down in iraq. it's worth noting that there have been steps made in the right direction. this past summer we passed legislation that'll help veterans get federal occupational licenses when their military training matches the civilian requirements. that was a bill that i had the privilege of sponsoring.
in the british foreign office in the united states should have the capacity to keep our eye on more than one war upon. >> i suppose the key was to negotiate. it didn't work that way. if it didn't work that way in a western democracy, the do very little chance of the work in that way in afghanistan, therefore the extent to which there is an engagement, whether it's track to her otherwise with the taliban if they think they're important because you can wait a long, long time for the kind of progress in security level, which may never happen. >> you're absolutely right. i keep using that as an example. there was no military plan that has that is the subject to defeating the insurgency. our strategy is not defeating the insurgency. >> affair in which he said among the afghan leadership. >> i think they generally want assessment. they have huge differences on what terms are prepared to accept. if you talk to afghan women, they are very worthy attempts of settlement will be to their detriment. you also talk and they don't want to give up the amount of power they've had. they've had more power than the
that open new plants and train new workers right here in the united states of america we can reward those companies that build right here and double their exports. we can create 1 million new manufacturing jobs in the next four years. you can make that happen. >> i want to create a future where everyone who wants a job can find a job. where no senior figures for their security of their retirement and every parent knows that their child will get an education that leads to a good job and a bright horizon. and unlike the president, i have a plan to create 12 million new jobs. host: has either campaign in specific on how they plan to create 1 million new jobs? politics is not my area, but from what i have followed i have not seen at all specifically this is going to happen. its romney's plan, one of five. is to reduce the deficit. but it is not clear how it leads to more jobs in a direct way. obviously, overall, a strong quake -- stronger economy and reduced debt leads to a better economic environment. but as you cut contractors, teachers, whatever -- anytime government is cutting spending, c
is flying at half staff. ladies and gentlemen, the national anthem of the united states. [playing "the star-spangled benneranner"] >> ladies and gentleman, the united states army chief of chaplain, major general. >> let us pray. remember the events of september 11, 2001. pray for all of those who greek today. for those who witnessed and survived the attack -- pray for all of those who grieve today. for those who witnessed and survived the attack, on a day when the worst visited our nation, our spirits were inspired what we saw at grand 0 and at the pentagon. we pray for the men and women who have been called to defend our country both at home and abroad. inspired by their legacy, we ask for continued courage and strength in spirit to faithfully serve our military and our nation. we are thankful that in our time of loss, you have not abandoned us to our grief. help us so that we may do your work, peace and justice, offering forgiveness and building community. hear us, lord god, in your holy name we pray. amen. >> a mamen. >> 11 years ago, the pentagon was attacked. please join us in obs
his speech. netanyahu has been critical of the united states, saying there is no more time for diplomacy on iran's nuclear program. plus, mira sore vino stops about her crusade to stop human trafficking and tomorrow you will meet a teacher who struggled a teacher that strug d for years and then found a way to profit off of what she was doing in the classroom and it turned her in to a millionaire. it's an amazing story. it is "out front" tomorrow. here's piers morgan tonight. >>> tonight, nuclear threat in the east, mahmoud ahmadinejad says he is the victim. >> no one feels secure or safe, even those who have stockpiled thousands of atomic bombs and other arms in their arsenals. >> we hear what will it take to keep iran from getting the bomb. >> i don't see victims. i see hard-working ohioans. >> we can't afford four more years like the last four years. we have to get the economy going again. >> campaigns go head to head. what the latest means. nate silver will be asked if romney can win and deepak chopra, wesley clark and ameerah al-taweel. things get lively at the clinton
] in the united states senate. still fighting for those who count on him to be their voice. using his intellect and his he will consequence he has fought to improve our health care choices and to protect our environment. and he called attention to the threat of terrorism before september 11. [applause] you know, i married the smartest, toughest, sweetest man i know. and in two days we will celebrate 27 years of marriage. [cheers and applause] the way we always do. we'll do it the way we always do, at wendy's. [laughter] whether it's wendy's or washington, i found that it's true. it's not where you go, it's who you go with. [cheers and applause] but none of the things i've mentioned are the reasons i married john edwards. i married him because he was the single most optimistic person that i have ever known. he knew there was a brighter day ahead even as he swept the floors in the cotton mill as a high school student. he knew if he worked hard enough, he could be the first in his family to go to college. he knew that he could outwork and outtough any battalion of lawyers to find justice. and he c
in and see him. him is the president of the united states. he's very much a junior partner. that is the new vice presidency. and that's what's really changed. it began under mondale and was that way to our country -- well, it wasn't so useful under cheney but i think now the vice president is a junior partner. he's explained to barack obama. looking up to him as a smarter guy, perhaps a tougher guy. but certainly with great loyalty. >> ed shultz, we're leading up to the president's speech. what are your impressions there? >> he was trying really hard tonight. he was trying to get as emotionally connected to the audience as he possibly could. it wasn't his smoothest performance, but it was effective. you could tell the crowd was involved. they know this man. they know what he's about. he's a genuine guy. high on sincerity, believable. i thought it was good testimony to the president. >> chris? >> i don't think we've seen that pitch of the president so far. the idea that it's about his judgment and what's in his gut and this kind of undescribable part of his being that can make the right call
of the united states. >> find any speech from both the democratic and republican conventions online at the c-span video library. >> during the republican and democratic conventions, we're asking middle and high school students to send a message to the president, as part of this year's c-span student cam video documentary competition. in a short video, students will answer the question, what's the most important issue the president should consider in 2013? for a chance to win the grand prize of $5,000, and there's $50,000 in total prizes available. c-span's student cam video competition is open to students grade 6-12. for complete details and rules, go online to student cam.org. >> i want c-span, c-span2 and the books portion of c-span, because i feel it's important to be knowledgeable about what's going on in the world, and i feel that c-span gives the most information about what's going on in specific subjects, where a lot of television doesn't do that. >> hillary pate watches c-span on comcast. c-span, created by america's cable companies in 1979, brought to you as a public service by your
privilege as far as being a citizen of the united states to vote and be part of the process. that is all i have to say. host: frank newport, it sounded like from the comments last night by mitt romney that they were really focusing on from here on out approaching voters who had voted for obama in 2008 and looking to lure them to the romney campaign. is there any way that gallup will be checking that attempt? guest: absolutely straight -- absolutely. we track daily. for a republican to win, they have to pull back in some of those voters. if the same scenario happens this year that unfolded in 2008, obama is going to win again. republicans have two goals -- one is to activate the core republican voters and get them to turn out, which is easier for republicans and democrats, because republicans are more likely to vote. they have characteristics like age and education that make them more likely to vote. the second task is to pull down at 7% margin that obama had over mccain, so they have to come in to become a convert some of those people who went for obama to go to romney, or they were going
saying ice free in as early as 202. we have a responsibility. in the united states we are about the only educated country or oecd country that will argue that this isn't primarily a human problem. somehow, we have to take this take this political system and move it the right way. it's time for the united states, in this area, to lead. we didn't lead. we should have led. after kyoto, it is time right now, urgently for the united states to team with china and lead us forward, out of where we are in carbon and in to a new, responsibility as global citizens. >> united states doesn't have to go through a battle to lead the world. you are already leading. you have other leaders who are emerging out there, which is fine. this is a globalized world. so just embrace them. keep inspiring and keep doing what you are doing. believe in young people. believe in technology and science and have leaders like them lead the way. >> it's a marathon. it's a marathon, not a sprint. i'm 37. i've done all the things you can possibly do in music, and i never thought i would be able to do those things when i was
things that is not a premarket industry in the united states because regardless of whether we have the information as to the optimus and effectiveness of a hospital or a physician problem -- or a physician, our health care provider networks that we are allowed to use are dictated by the insurance companies. a lot of the discussion about health care in the united states, people fail to discuss the role of the insurance companies and in network and out of network providers. i would like for you to comment on a world of our employers and large insurance companies play in directing where we get care. oftentimes, we are not allowed to get hair -- get care at, say, a university hospital or a teaching hospital regardless of our condition since solely because the out of pocket expenses will be way too high for a person to report getting the best care, even though it exists. guest: in my book and "and accountable," i share the reasons why it patient often decides to come to, particular hospital. their mother was treated there, the party was easy. if people are choosing a hospital based on t
in united states to shrink from our belief in universal rights. i think it's just the example we get to the rest of the world. and that example because of events in recent years and iraq and afghanistan and elsewhere, the fact that our political system is not functioning as smoothly as it might have at one point, not as smoothly as it could operate, i think we've lost a little bit of our ability to influence others in the world. we have to acknowledge that, and we have to regain that. and then they will perhaps start following some of the examples we've set forward. we are still the most successful country, i think, democracy and the world. i think we been an example to asia, an example to europe. the doctor mentioned the marshall plan. that brought europe to where it is now. and i always am amused that people say this change can't happen. look at my european friends, they are all social democrats and they all have teams in queens. so i mean, it can happen. >> okay, more questions. >> hello everybody. i am from belgium and i'm currently working for the washington quarterly. i'd like
/11, and thanks to the is on the road to defeat and bin the united states of america. [applause] back. all the troops from bliss highlanders. deployed later this year. fight. you know this. ultimate sacrifice, including day last month. our message to them was this. we will honor them always. pushed the taliban back. month. war responsibly. lead for their own security. in 2014, the transition will be complete. never again. [applause] think about it. and afghanistan. thirds. home. and what does that mean for you? prepare for the future. your spouses and your kids. stronger. restore american leadership. don't you believe it. our alliances have never been gaddafi. leadership. top. [applause] incredible service. war, we are destroying terrorist leadership. proud that the united states is is more respected in the world. a pledge. have served us. in them. to your families. hey. [laughter] interest. when we do, we will give me the equipment and a clear mission to get the job done. [applause] world, bar none. superiority. [applause] to scare you. find a plan to reduce the including defense. threate
and a white america and latino america and asian america. there's a united states of america. >> eight years after the keynote that launched his national career, four years after becoming the nation's first african-american nominee, tonight president barack obama accepts the nomination a second time. tonight the president makes his case for four more years. >> four more years. >> america needs four more years. >> tonight more from the first lady, vice president biden, caroline kennedy, the foo fighters? yes, the foo fighters. weather moved tonight indoors. but after a first night owned by michelle obama, after a second night owned by president clinton, expectations for the finale are sky high. msnbc's primetime coverage of the democratic national convention's final night begins right now. >>> thank you for joining us. i'm rachel maddow here at msnbc headquarters in new york. i'm joined by ed shultz, melissa harris-perry, chris hayes, and the senior strategist steve schmidt. lawrence o'donnell and al sharpton will be joining us in a moment. leading us from the site of the convention is our co
's a crude film. they know it has nothing to do with the united states government. it is an excuse. one intelligence person told me, if you scratch the surface, and if you gave every street vendor from street vendor to prime minister in that region a chance to throw a rock at the u.s. embassy, they would. so this is their excuse. >> look at what's happening in afghanistan 11 years later. >> and look what's happening in afghanistan. and is it just me? willie, is it just me, or is it -- we have the grave concern about the tragedy that happened to the ambassador and our people that have served so proudly for, you know, for the state department who were killed. and yet this weekend, more u.s. troops in afghanistan gunned down by our supposed allies. this happens every day. this happens every day. and yes, our u.s. ambassador being killed is just absolutely horrific. but every single day, young american men and women are gunned down in afghanistan. >> 51 of them this year on insider attacks. 51 nato troops including many americans this year. >> nobody's talking about it. >> to your point exa
the obligations to the united nations. that is why the united states will do what we must to prevent a run from obtaining a nuclear weapon. lou: the president was careful in his language. radical islam not mentioned once in his speech even though there is convincing evidence and a consensus that it was not an attack carried out by terrorists with links by al qaeda if not led by al qaeda. president obama did defend israel in the context of the 2-dissolution the palestine. president obama did not use the word allied to it specifically describe our relationship with the jewish state. the president refused one-on-one meetings with any of the world leaders. this is the same man who, as a candidate, pledged to, more than four years ago, the with our enemies without preconditions. he criticized the bush administration's unilateralism. >> the notion that i am not talking to countries is punishment to them which has been the guiding diplomatic principle of this administration is ridiculous. lou: we will be examining the guiding principles of president obama's foreign-policy tonight with armed services c
of the united states being torn down from embassies across the middle east and replaced over sovereign u.s. territory with the flag of al qaeda. you have tens of thousands of people being killed in syria and the administration is doing 234 nothing about it. looks like tehran, 1979, across the middle east. >> that's what many republicans are saying. the democrats and some republicans say governor romney stumbled badly when he criticized mr. obama after the death of the u.s. ambassador to libya. in the end, could you argue that romney's tactic proves successful? it did change the conversation. at least about libya. >> yeah. find it -- fascinating that so many people are talking about romney had a gaffe. it turns out he was right. that one that it was wrong to put pout an n a statement -- criticizing the -- apologizing for the video which the administration continued to do and obama will do again today in his u.n. speech. but also, you know, who had the foreign policy gaffes? it has been president obama. president obama went on "60 minutes" and called what's happening in the middle east bum
in the united states, but done in france which is a modern labor market where i think there are some lessons. the code-talkers actually convinced the french government to do something i hope we can convince our -- co-authors actually convince the french government to do something i hope we can convince our government to do, which is to experiment with widespread unemployment services programs and look at what the effects on the labor market are not just by randomizing an individual having access to the program, but breaking france up into different geographic areas of labor markets and providing 100% of the people access in some areas, in some areas , in some areas 55%, some areas 25%. if you do that randomly, on average, if you're in an area where a lot of other people use this program, does that have a negative effect on you? what they found is in tight labor markets, basically the programs really helped people get into jobs more quickly. when the labor market is weak, is largely a game of musical chairs. one person getting a job makes another person have a more difficult time. thinking ab
investment, which, in turn, would lower the growth of incomes in the united states. and so, while we talk about growing the economy and economic growth and the need to get businesses around this country hiring again, at the same time there is a negative pressure being place odd them because congress can't do its job to control spending. $16 trillion in debt. you mentioned it was nearly $51,000 for every man, woman and child. we have a 10-month-old, he owes $51,000 as a share of the federal debt. $51,000 a piece. and that negative pressure, that mounting debt, deficits that are over $1 trillion a year, makes it moran more difficult for businesses to have access to the capital they need to grow and make it difficult for companies to operate because they find themselves competing with the federal government for those scares resources. next thing, the government will have to look at tax increases. and so the challenges our bases face, congress, can you get government out of the way so we can let america work and run our businesses the way we want to, not the way washington wants to. but at th
in the united states and around the world. i'm wolf blitzer. you're in "the situation room." >>> we begin with the dramatic highs and lows in the race for the white house. now in full swing with the conventions over in both campaigns laser focused on november. the spotlight had barely cooled for president obama's big night when the latest unemployment report cast a shadow over the democratics' post-convention glow. mitt romney called it the hangover to the party in charlotte. the labor department says u.s. employers added only 96,000 jobs in august, fewer than expected, although the jobless rate did fall to 8.1%. our chief business correspondent, ali velshi, is joining us now to take a closer look inside the numbers. ali, the unemployment rate went down, but that's not necessarily a positive development. explain what's going on. >> you know, i've said for years that it's just easier to look at the number of jobs created or lost as opposed to the unemployment rate. and i'll explain that to you in a second. but the number of jobs added in august was 96,000. now, if you look at the pattern o
first. so of not red or blue states, what the united states. i no they're not that many football fans here today. my first story about president obama has to do with football. he was the last interview that i did for my book. i interviewed three andrew and 50 people will for him and traveled the world. i thought about what i would -- how i would break the ice with him for a long time. i remembered that he is a bears fan than i am a pakistan and that two years ago when the packers played the bears in the nfc championship game president obama announced that if the bears won he was going to the super bowl. the packers won. and the star player on the packers after the game got up on the table of the jesse berman said, president obama will come see us, but we're right to go see him at his house meeting if you win the super bowl you to visit the white house. this was their star quarterback, so when i finally got my interview with president obama and shook his hand and said, mr. president, charles got here before me, but i'm glad we both finally made it. he said, yeah, man, those packers wer
for a senator who is on his way to becoming president of united states. a prime time pat on the back. barack obama and why he should be given another shot at this. michele obama presented a very personal story. we are going to talk to a congressman who had a story more than 24 hours ago. peter barnes on the floor of the democratic national convention. reporter: neil, one of the goals of the obama campaign is to try to reach across generations and we are doing that right here on the north carolina delegation. a few seats down from me, an older delegate wearing what looks to be an original top hat for john f. kennedy, caroline kennedy's uncle. the campaign, of course, trying to appeal to seniors as well as younger voters and middle-aged voters across all the ages. big decisions over the next few years. he is going to say that he wants more time and needs more time. the truth is it will take more than a few years for us to solve challenges that have built up over decades. including creating another million manufacturing jobs by 2016. neil: since it took a while to turn this ship around, you wil
, there is not a liberal america or a conservative america, but a united states of america. >> reporter: he has made a sport of outspeaking the adversary. >> john mccain says that he would like to follow osama bin laden to the gates of hell, but he won't follow him to the gates where he lives. >> reporter: and yet he faces the biggest challenge tonight, can barack obama top barack obama? >> the expectations game tonight works against the president. it is a speech that will be compared to the '08 speech. >> reporter: obama comes from a long line of presidential party candidates who faced similar challenges. recall bill clinton's snoozer of a speech. >> in closing -- [ cheers and applause ] >> reporter: became history when it was replaced by the 1992 rousing speech. >> i have news for those defenders of greed and the status quo, your time has come and gone. >> reporter: it is up to obama to live up to clinton's second successful convention speech. >> tonight, let us resolve to build that bridge to the 21st century to meet our challenges and protect our values. >> the president has to make a case for h
in the united states, however, on the fiscal cliff, which you are very concerned about. the xpiration of the bush tax cuts and automatic spending cuts that come if there's no budget agreement. how do you view this playing out? what are the implications for the market? >> i think this is very important. last week maybe the point when investor sentence focuses on this instead of europe. first of all, the size of the fiscal cliff at about 650 billion, 4% of gdp. it would be hitting at a time when the economy is weak and particularly the consumer is weak. i do think this represents a big danger to the economy. the challenge is it's not discounted into the price. we're all talking about it, i've met very few investors who believe it will happen. if we do start to move to an environment where it becomes more likely, it will create volatility and also hit equity prices as well towards the end of the year. >> how do you invest against that kind of back drop? where would you put money to work right now? >> i think there are a couple of things investors can do. one thought is for those that hav
in the united states and around the world. there was a recent study out quickly on this by the clearing house association. the first time i have seen this people because talk about the economies that takes the top 26 banks in the united states, and basically says that after a lot of study and research they did, it benefits $50 to $100 billion a year because of these efficiencies. it was natural for it all to happen. second from a public policy perspective, we have to remember that we as a country are trying to compete in a localizing world. we have the best banks in the world. they have certainly had a impact on creating large businesses. why would you want to break all of that up, it makes no sense from a public policy perspective. >> it's important that you bring up the global story. they're obviously not going to compete with the international banks and deutsch banks who will be the large institutions. but let me get your take on what's going on in terms of the masses. time and time again we hear an argument that depositors do not want their money used to take risk. you said they're not to
international indebtedness. if the united states economy is not as strong as it has been in the past, we cannot protect our values around the globe, and we cannot negotiate with bankers. this gives us serious weaknesses on the economic and national-security front. the ultimate insult, we handed to the next generation that had no safe in the kinds of things we have seen go on and ask them to pick up the bill, and that seems like a gross injustice and mass. gerri: i want you to respond to something, david axelrod, the president's base of riser said about this and why the president is doing the right thing. here he is. >> the president's plan would do what the simpson bowles plan would do, cut the deficit by $4 trillion, reduce attack under our deficits down to 3 percent of the gross domestic product which is what everybody agrees we need to stabilize the debt. then we will be in a position to begin reducing it further. gerri: what do you make of that. >> perfect except for a couple of flaws. we have not seen the growth and are not likely to get the kind of growth that they assume in those budget
's why i'm running for a second term as president of the united states. now, hold on a second. i want you to know, though, because some of you may not have been paying attention at the convention because you were still thinking about michelle and how good she was. [ cheers ] or maybe you're still talking about president clinton and how he broke it down. well, i want everybody to be clear. the path i'm offering isn't quick or easy. it's going to take more than a few years. to deal with all the challenges that we face. but let me tell you something, when i hear the other se talking about how the nation's in decline, i tell them, you must not be getting out much because this is america. and we've still got the best workers in the world and the best entrepreneurs in the world and the best scientists and researchers in the world, and the best colleges and universities in the world. and there's not a country on earth that wouldn't trade places with us right now. so i'm confident our problems can be solved. our challenges will be met. the path i offer is harder, but it leads to a better place. b
produce all sorts of nuclear missiles getting ahead of the united states in defense in a way that was so dangerous that we might lose the cold war. kennedy said that over and over again. one of the reasons he won election in 1960. he got into office with access to intelligence and realized soviets are way behind, extremely behind the united states. there is a missile gap in favor of the united states so the problem was kennedy and campaign said we need to increase defense in order to make of this problem and he was committed to that. in 1961 the largest defense buildup in human history and the results to a great extent, one of the ways he dealt with that, and a large portion of humanity to death. >> when did crucial of -- >> guest: he was high on solid leadership but when we went to dinner at stalin's, never knew when the car came back whether it would take us home or to the gulag and it did take some people to the gulag but not crucial of. stalin died in 1953. there were two leaders who were essentially joint leadership. khrushchev and malenkov. by 54-55-56, crucial of was the supreme l
of the united states. it made us proud as americans to know that those prejudices that we've had in the past are falling away. >> beyond some of the more personal areas, we sat down at campaign headquarters the next morning for more detailed discussion about where governor romney stands on the key issues of the campaign. so governor, we talked last night about jobs and the economy and also the debt. i want to begin there. you've called the debt and our deficit a moral crisis and yet in addition to extending the bush tax cuts you want to cut tax rates an additional 20%. you've rejected a 10-1 spending ratio when it comes to spending to increasing taxes. and yet you want to balance the budget. the math simply doesn't add up, does it? >> actually it does. five different economic studies including one at harvard, princeton, aei and a couple at the "wall street journal" all show that if we bring down our o top rates and go across the board, bring down rates for everyone in america, but also limit deductions and exemptions for people at the high end, you can keep the progressivity in the code, rem
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